India and Gulf Cooperation Council Advance Free Trade Negotiations in Saudi Arabia

On 24 August in Riyadh, Indian Ambassador Vipul and GCC Secretary‑General Jassim Mohammed Al‑Budairi convened to push forward the India‑GCC free‑trade agreement (FTA) and explore avenues for enhanced cooperation.

The officials reviewed the February‑signed Terms of Reference, which outlines the negotiation framework. The ToR was endorsed by Additional Secretary Ajay Bhadhu of India’s Ministry of Commerce and GCC chief negotiator Raja Al‑Marjuqi, with Commerce Minister Piyush Goyal witnessing the signing.

The meeting also reflected on the September 2023 two‑day political dialogue in Riyadh, where the Joint Action Plan 2024‑2028 was adopted, covering sectors such as security, trade, agriculture, transport, energy, health, culture and education.

Established in 1981, the GCC unites Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, based on common geographic proximity, Islamic values and shared strategic goals.

According to the Ministry of External Affairs, India‑GCC trade surged to approximately US$178 billion in FY 2024‑25, while the Gulf hosts an estimated one crore Indian diaspora, reinforcing the strong bilateral relationship.